The Biggest Bribe Penalty Ever
German electronics giant Siemens will agree to pay more than $1 billion in fines to avoid prosecution by the Securities & Exchange Commission and the U.S. Justice Dept. on charges it paid hundreds of millions in bribes to win foreign contracts. The fine will shatter the previous record fine under the Foreign Corrupt Practices Act. Siemens will also agree to allow compliance monitors to set up shop in its Munich headquarters to ensure the company has cleaned up its act.
taken from yahoo.com…